Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    310 Lake St Maywood, IL 60153

    Sponsored
    For Sale
    $698,888

    Prime location, high-income used car lot, multiple buildings.

    Property size:
    1,168 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    365
    This exceptional commercial property at 310 Lake Street, Maywood, IL, presents a remarkable investment opportunity. Spanning 0.62 acres, this offering includes five parcels sold together, currently operating as a thriving used car lot with capacity for 75 vehicles. The property boasts a substantial garage and two additional buildings, each equipped with offices and restrooms, generating over $90,000 in annual rental income. The 1,168 square foot main building provides ample space for business operations, while the additional structures offer versatile options for expansion or rental. The property's prime location in Maywood, IL, ensures high visibility and accessibility, making it ideal for continued operation as a used car lot or for redevelopment into a variety of other commercial ventures. The substantial rental income stream provides a strong foundation for immediate return on investment, while the expansive lot and multiple buildings offer significant potential for future growth and development. This is a rare chance to acquire a multi-faceted commercial property with proven income and immense upside potential. The possibilities are truly endless. Don't miss this exceptional opportunity.

    Property Features for 310 Lake St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    1,168 SF
    Lot Size
    27,007 SF

    Building Details

    Year Built
    1971

    We can help!

    Listing Contact
    Larry Lazar

    Learn more

    Property Insight Report
    Location Intelligence

    Current Use by Public Records

    Lakeview Motors Inc Car Dealership

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Maywood
    County
    Cook
    State
    Illinois
    Longitude
    -87.83739
    Latitude
    41.88912

    Nearby Similar for Sale

    • $2,425,000
      0.48 Acres

      Truck Repair Facility with Store

      Maywood truck repair facility with adjacent convenience store for sale.
      1310 S 4Th Ave, Maywood, IL 60153
      View Details
    • New
      $419,900
      0.16 Acres

      Maywood Multifamily Townhome For Sale

      Two 3-bed, 2-bath units, finished basements, and fenced backyard.
      1118 S 7Th Ave, Maywood, IL 60153
      View Details
    • $270,000

      Maywood Multi-Unit Investment Opportunity

      Five-unit building with rehab potential and spacious parking.
      1718 S 6Th Ave, Maywood, IL 60153
      View Details
    • $185,000

      Maywood Two-Unit Property with Garage

      Two-unit property in Maywood, Illinois, with two-car garage.
      136 S 10Th Ave, Maywood, IL 60153
      View Details
    • $559,000
      0.57 Acres

      Maywood Car Wash For Sale

      Updated self-service car wash facility on a busy traffic corridor.
      801 W Roosevelt Rd, Maywood, IL 60153
      View Details
    • $249,000

      Classic Maywood Two-Flat Opportunity

      Two-flat in Maywood, Illinois, with renovation potential.
      1110 S 4Th Ave, Maywood, IL 60153
      View Details
    • New
      $200,000
      Pending

      Maywood Mixed-Use Property For Sale

      Mixed-use property with retail space and a three-bedroom apartment.
      1310 5Th Ave S, Maywood, IL 60153
      View Details
    • $450,000
      1.41 Acres

      Maywood Commercial Property For Sale

      Large lot with existing structure and ample parking.
      615 S 5Th Ave, Maywood, IL 60153
      View Details
    • $220,000
      0.08 Acres

      Updated Storefront in Maywood, IL

      City-approved, updated storefront ideal for salon, studio, or small business.
      1209 S 5Th Ave, Maywood, IL 60153
      View Details
    • $80,000
      0.06 Acres

      Maywood Commercial Opportunity For Sale

      Commercial property in Maywood, ideal for auto repair business.
      512 Lake St, Maywood, IL 60153
      View Details
    • $620,000
      2,000 SF

      Maywood Mixed-Use Commercial Building

      Commercial mixed-use building with development potential in vibrant Maywood.
      409 Lake St, Maywood, IL 60153
      View Details
    • $999,900
      3,200 SF

      Maywood Commercial Building For Sale

      3,200 SF commercial building in Maywood, Illinois, zoned C-3.
      1119 Roosevelt Rd, Maywood, IL 60153
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Prime location, high-income used car lot, multiple buildings.
    Where is this commercial real estate located?
    The property is located at 310 Lake St Maywood, IL.
    What is the asking price?
    The asking price for this property is $698,888.
    (630) 929-1100
    Request Owner's contact information
    310 Lake St Maywood, IL 60153
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    310 Lake St
    Maywood, IL 60153
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    310 Lake St Maywood, IL 60153
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Larry Lazar
    (630) 929-1100
    Learn more
    Google sign-in failed. Please try again or use another login method.